Correct Answer: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

Solution : The correct answer is (b) Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

The assertion is true. Stock exchanges do provide a platform or marketplace where buyers and sellers can come together to trade existing securities.

The reason is true but not the correct explanation of the assertion. While stock exchanges do facilitate the trading of existing securities, they are not primarily platforms for the issuance of new securities to the public. The primary platform for the issuance of new securities is the primary market, where initial public offerings (IPOs) or additional offerings are conducted. Stock exchanges facilitate the trading of these already-issued securities in the secondary market.